Interim Report January - March 2021

Strong first quarter in sales as well as net result

January - March

• Net sales increased with +6.2 procent to SEK 70.4 (66.2) million (+13 percent in local currencies).
• EBIT amounted to SEK 6.0 (-8.8) million.
• EBIT margin was 8.5 (-13.2) percent.
• Profit after tax amounted to SEK 6.5 (-8.5) million.
• Earnings per share before/after dilution amounted to SEK 0.35 (-0.46).
• Cash flow from operating activities amounted to SEK 9.4 (9.2) million.
• Cash and cash equivalents at the end of the period amounted to SEK 111.1 (71.5) million.

The first quarter of 2021 was a strong quarter for MSAB. In terms of sales, we delivered the best quarter in the Company’s history, SEK 70.4 (66.2) million. The bottom line, for a quarter that historically has been our weakest due to the seasonal variation we have in sales, was SEK 6.5 (-8.8) million.

This strong quarter, together with three out of four strong quarters in 2020, sets the stage for continued growth in 2021. I am happy to report that one year after the pandemic afflicted the world, MSAB has a solid financial foundation and remains the market leader. We’ve adopted our way of working, which is a key contributor to our strong global sales and cash flow.

When it comes to our global sales, EMEA, and especially Europe, accounted for the largest growth. We have a strong presence in this region, a broad customer base, and our result, as well as the feedback we receive from customers old and new, confirms our leading position. We are convinced that we will continue to grow in EMEA in 2021.

Last year we decided to reorganize our North American organization to ensure that we can fully realize the enormous potential we see on the North American market. Now that the new organization is in place, we are already beginning to see the results and we are convinced that we will see even more progress and growth throughout the rest of the year.

As we enter the second quarter, most of our customers remain in some form of lock-down, which means that they are unable to receive visitors, travel to suppliers for training, or meet for any other purpose for that matter. This situation means that some of the more major business deals we expect in 2021 are delayed. Exactly as we did for most of 2020, we continue to adapt and overcome these obstacles so we can meet our customers.